If you run your own business, as a sole trader or a partnership, you will need to prepare a tax return and annual accounts. Our team includes Chartered Accountants and we pride ourselves on being able to provide an efficient, cost-effective service.
Furthermore, we have specialist experience in many sectors having helped clients across the industry including computer consultants, MPs, barristers, builders, management consultants, publicans, garage proprietors and many others.
When you start in business it is important to decide which is the best vehicle through which to trade. In many cases commercial considerations will point to one option whilst another is more tax efficient. We can help you balance these opposing arguments and make the right decision.
In addition, we can advise you on the practical issues relating to running your own business including when and how you need to register your business to avoid financial penalties being imposed.
We can also advise you on the implications of the
Limited
Liability Partnerships Act (LLPA).
We are also valued for our planning
for National Insurance contributions.
We are in the process of creating a "Starting in Business" service pack - this will provide a variety of services to help clients that are new to business, to get up to speed with the various issues they will face in their early years. The pack will comprise a number of services, and the client will be able to select the options best-suited to their needs and budget.
We are able to provide expertise in Corporation Tax. We will either prepare accounts and tax computations for your company or we can work with another firm of accountants who prepare the accounts. Increasingly companies are reluctant to use their auditors for additional services and we are well-placed to provide both the compliance work on tax, VAT and PAYE but also to add the specialist advice which growing companies need - e.g. share option schemes, R&D tax credits etc.
We also act for the UK subsidiaries of a number of overseas companies, who have limited physical presence in the UK . For these clients the ability to use us as their UK registered office and have us deal with UK accountancy and tax compliance procedures is invaluable, particularly since the use of WebsterAccounts (our proprietary web-based accounting system) enables the parent company to easily monitor the financial position and operations of its subsidiary.
Value Added Tax, or VAT, is a tax that applies to most business transactions involving the transfer of goods or services. Once your business turnover reaches a certain level, you will have to register for VAT. This means that whenever you buy or sell anything in the course of your business, you will have to pay VAT to HM Revenue & Customs and you will have to complete and file regular returns detailing your business transactions and the VAT on them. Even if your turnover is below the registration threshold in some cases it is beneficial to voluntarily register for VAT, we can advise you if this is so in your case.
Click here to know more about VAT and our VAT Services
We
have specific expertise in a number of issues which affect clients.
We have set up over 30 companies using the benefits of the Enterprise
Investment Scheme ("EIS"), set up Share Schemes, and advised on R&D tax credits. Click here to find out more about the Enterprise Investment Scheme, Share Option Schemes, and R&D Tax Credits.
To find out more about our , please call us at +44 (0)1223 507080 or email at info@tax.uk.com
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Self-employment